Montreal-based WSP Global Inc. has announced a definitive agreement to acquire UK engineering consultancy Ricardo PLC for an enterprise value of approximately £363.1 million (about $670 million USD or C$919 million), marking a significant step in WSP's 2025–2027 Global Strategic Action Plan. The acquisition, priced at 430 pence per share, represents a 28% premium to Ricardo's closing share price on June 10, 2025, and a 69% premium over its three-month average.

To finance the transaction, WSP has secured a £230 million (approximately C$583 million) term loan facility from Royal Bank of Canada, with the remainder funded through existing cash and credit lines. Legal advisors for the deal include Linklaters LLP for WSP and Ashurst LLP for Ricardo.

Ricardo, employing around 2,700 professionals across more than 20 countries, specializes in sectors such as energy, environment, and transportation. The acquisition is expected to bolster WSP's capabilities in high-growth areas and expand its presence in key markets including the UK, Australia, and the Netherlands.

The transaction has received support from Ricardo's board and major shareholders representing approximately 48% of the company's issued share capital. Completion is anticipated in the fourth quarter of 2025, pending regulatory approvals and shareholder consent.